Fintech's Rapid Move from Local to Global
Hi there! 👋 If the last few days have told us anything, it’s that Fintech can scale quickly, and globally!
If you are a VC-backed fintech startup or a growth-stage finance company dipping your toes into new technology, you need to be ready for some major competition.
One of the biggest hurdles often faced is the need for velocity with a lean team. Expansion isn’t always simple; hiring takes time, and senior developers cost money.
Trio can help with not only industry-experienced developers but valuable insight regarding security and regulatory compliance, as well as any other pain points unique to the fintech industry you might be overlooking; check out this article to make sure you’ve got the basics down.
Revolut, a UK fintech giant, has declared that Paris will be its new headquarters for Western Europe!
This isn’t going to come cheap. The company is applying for a licence to invest over €1 billion in France over the next 3 years. But this amount shouldn’t surprise us, as Revolut has been one of the fastest-growing banks on the continent.
While the politics behind this move matter, we think it’s more important to focus on the general trends being cemented once again.
Fintech moves fast! You need to think about short- and long-term regulations and licencing to secure your future.
If you are thinking of expanding your product’s regional coverage in the future, you need to start preparing now! Get in touch with developers from other countries, and contact outsourcing firms who may be knowledgeable about regulatory differences.
If you don’t get ready to move now, you’ll risk costly mistakes and even miss opportunities later!
The institutional investment firm Oaktree Capital has just invested $250 million in Coign, a conservative credit card company!
In the last few years, consumers have been more focused on aligning their products with their values. This has allowed small fintechs and companies like Coign to take a value-based stance, making them more attractive to a certain group.
What can we take from this? One-size-fits-all solutions are a thing of the past, and personalization is here to stay!
Whether you are integrating AI to provide person-to-person changes in apps or you are targeting a product to a well-defined niche, it’s important to have experienced developers on board so you can focus on building a reputation of trust and professionalism.
🌍 Other Stories Worth Noting
Let’s look at some other stories worth noting from the past few weeks:
Getepay Gets RBI Approval: Getepay, a local fintech firm from Rajasthan focused on digital payments, has gotten approval from the Reserve Bank of India to become a Payment Aggregator online! This is going to be an incredible opportunity for the firm.
Go Fintech Expands into Australia: Go Fintech, a global firm known for its AI-powered inclusivity, is expanding to Australia. The move cements the demand for personalization and accessibility in Fintech as well as mobile and web apps in general.
Final Thoughts
Fintech changes quickly. You need to implement scalable technology solutions and research potential regulatory considerations to make sure you are ready for whatever the industry throws at you.
Having the right development partner is incredibly important!
If you have found this newsletter helpful, make sure to share it with a friend or colleague who may also benefit from it. Anything to add, or something you think we’ve missed? Hit reply to let us know!
Until next time - Keep scaling!